Linn Energy Reported Q2 EPS Of $0.47

- Linn Energy Reported Q2 EPS Of $0.47



Jul 28, 2011

Linn Energy (NASDAQ:LINE) reported Q2 Adjusted EPS of $0.47, vs. consensus estimates of $0.61 per share.

Mark E. Ellis, President and Chief Executive Officer said, "We have already closed more than $850 million in acquisitions, setting a strong pace for the year. In addition, our organic growth program is on track to deliver an estimated 30 percent growth year-over-year. Our strong second quarter results, coupled with our projected future growth, positioned us to raise our distribution by 5 percent. This is the second time we have raised the distribution in the last nine months, and represents a 10 percent increase since the second quarter 2010."

Linn Energy has a potential upside of 13.2% based on a current price of $39.77 and an average consensus analyst price target of $45.

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